Hologic acquired by Blackstone and TPG in $18.3bn deal

BY Fraser Tennant

In a deal that takes the medical diagnostics company private, Hologic is to be acquired by funds managed by private equity firms Blackstone and TPG for $18.3bn.

Under the terms of the definitive agreement, Blackstone and TPG will acquire all outstanding Hologic shares for $76 per share in cash plus a non-tradeable contingent value right to receive up to $3 per share in two payments of up to $1.50 each, for total consideration of up to $79 per share in cash.

The merger agreement includes a 45-day ‘go-shop’ period, during which time Hologic and its advisers may solicit, consider and negotiate alternative acquisition proposals from third parties.

The deal to acquire Hologic is the largest acquisition of a medical device company since Boston Scientific bought Guidant Corp for $27bn in 2006.

“Hologic is an outstanding global leader in advancing women’s health, with a longstanding reputation for groundbreaking and high-quality medical device and diagnostic products,” said Ram Jagannath, a senior managing director at Blackstone. “We are thrilled to partner with its highly talented and capable employees, alongside TPG, to further invest in Hologic’s continued product innovation and growth.”

The Hologic board of directors has unanimously approved the merger agreement and has recommended that Hologic stockholders vote their shares to approve the transaction and adopt the merger agreement.

“Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world,” said Stephen P. MacMillan, chairman, president and chief executive of Hologic. “This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible.”

The transaction is expected to close in the first half of 2026, subject to the approval of Hologic’s stockholders, the receipt of required regulatory approvals and the satisfaction of certain other customary closing conditions.

Upon completion of the transaction, Hologic’s common stock will be delisted from the Nasdaq stock market.

“Hologic represents a compelling opportunity to support the development of next-generation solutions that will continue to promote strong clinical results and enhance patient care,” said John Schilling, co-managing partner of TPG Capital. “We are proud to partner with the Hologic team and Blackstone in this exciting new chapter.”

News: Blackstone, TPG to take medtech Hologic private for $18.3 billion

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